New city investment managers

GrabFood expansion: Risky or wise? First of all, it is obvious that the on-demand food delivery market in Vietnam has great potential. According to Euromonitor, the Vietnamese market has a growth rate of 11 per cent per year, and is expected to be worth $38 million by 2020. Besides some big players with a firm position in the market such as Foody, Now.vn, and Vietnammm, users also witnessed some well-known brands withdrawing from the food delivery market due to the huge competitive pressure such as Foodpanda or Lala. This proved that the food delivery market is not an easy market to operate in. As a newcomer among its rivals, GrabFood proved its strength with remarkable milestones on the journey to expand its domestic operation. After the impressive success in Ho Chi Minh City, Hanoi, and Danang, it continued to launch, at the same time, in 12 new provinces and cities, bringing the total number of locations where GrabFood is present up to 15 cities and provinces and becoming the … [Read more...] about GrabFood expands to 12 new cities and provinces: Risky or wise?

Overview of the meeting (Photo: VNA) After listening to a report on matters related to the port, located in the northern city of Hai Phong, the PM clarified that the planning and investment of the port must be made coherent to improving the national competitiveness and ensuring that the Lach Huyen deep-sea port becomes a factor attracting investors to Hai Phong. As the port is significant to the whole northern region, it is necessary to focus resources to expanding it in a more rapid manner, he said. The PM assigned the Ministry of Transport to work with Hai Phong to review the project and submit a report to him at an early date. Regarding the management model of the port, the PM asked the Ministry of Justice to coordinate with the Ministry of Transport and the People’s Committee of Hai Phong to deal with the issue in line with the law, but to make sure that there will be no additional agencies and personnel for the work. Under the planning, Hai Phong ports will handle 109-114 … [Read more...] about Hai Phong port investment, management make spotlight at Cabinet…

Overview of the meeting (Photo: VNA) Hanoi (VNA) – Several important issues, including the investment, management and utillization of wharfs in Hai Phong International Gateway Port, were discussed during a meeting of the Cabinet chaired by Prime Minister Nguyen Xuan Phuc on August 24-25. After listening to a report on matters related to the port, located in the northern city of Hai Phong, the PM clarified that the planning and investment of the port must be made coherent to improving the national competitiveness and ensuring that the Lach Huyen deep-sea port becomes a factor attracting investors to Hai Phong. As the port is significant to the whole northern region, it is necessary to focus resources to expanding it in a more rapid manner, he said. The PM assigned the Ministry of Transport to work with Hai Phong to review the project and submit a report to him at an early date. Regarding the management model of the port, the PM asked the Ministry of Justice to coordinate with … [Read more...] about Hai Phong port investment, management make spotlight at Cabinet meeting

At the seminar held on June 7 (Photo: VNA) HCM City (VNA) – The Ho Chi Minh City Institute for Development Studies (HIDS) and Vietnamese – Germany University (VGU) held a scientific seminar on June 7 to discuss opportunities and integrated management towards building a smart city. HCM City’s smart city development project is expected to improve management via “open data” system and new tools such as the concentrated management centre, the centre for database and cyber security, and the simulation centre. Additionally, a start-up ecological system and an innovative urban area also attract the involvement of the public and businesses. HIDS Vice Director Nguyen Van Trinh said the institute is building a simulation centre for strategic forecast, thus offering reference to the city in socio-economic development. It is also studying a project on developing the eastern city into an innovative urban area covering districts 2, 9 and Thu Duc. … [Read more...] about Measures discussed for HCM City smart urban development

Government inspectors have ordered Ho Chi Minh City to revoke a piece of public land at a prime location, saying violations in the transaction had caused million-dollar losses to the state budget. The land lot of nearly 5,000 square meters (nearly 6,000 square yards) at 8-12 Le Duan Street in District 1 was designated to be developed into a five-star hotel and commercial center complex in 2007. But the city officials had condoned misconducts during the execution of the plan, said the Government Inspectorate. Inspectors said HCMC authorities should have carried out a bidding process to select a prestigious and experienced investor, but they instead formed a joint stock company in 2010 to carry out the project, following requests from the Ministry of Industry and Trade, whose units were renting the lot. The Ho Chi Minh City Housing Management and Trading Company held a 50 percent share in this new company, Lavenue Investment, and the trade ministry’s units the rest. After two … [Read more...] about Ho Chi Minh City gov’t in hot seat for violations in selling golden public land

Party committee secretary of the district 2 Nguyen Hoai Nam reported to the delegation that 22 religious establishments in the area of urban planning (new urban area) of Thu Thiem have agreed to relocate and carried out site allocation. These religious establishments have been relocated in residential areas of several wards in district 2 that are more spacious and have resumed religious activities. Relevant organs of HCMC and district 2 are continuing to mobilize and persuade other religious establishments to hand over the ground to serve Thu Thiem new urban area project. Party Secretary of district 2 Nguyen Hoai Nam affirmed that the city always creates best conditions and implement proper policies to support religious establishments in the relocation. Accordingly, the city exchanges new location in a fully advanced infra-structure area with an extra area of more than 20% in comparison to the old ones. Realizing that religious establishments are quite special, the authorities offered … [Read more...] about City Party Committee Secretary Nguyen Thien Nhan visits religious establishments

At a meeting on March 29, Phong appreciated the participants for their presence at the event, saying that this show their interest and confidence in HCM City’s development potential. While briefing delegates about the National Assembly’s Resolution 54/2017/QH14, Phong said under the resolution, the city will pilot special mechanisms and policies to foster its development in five fields: land management; investment management; financial-state budget management; empowerment mechanism; and incomes of officials and civil servants. Chairman of the Ho Chi Minh City People’s Committee Nguyen Thanh Phong (standing) at the even The resolution is hoped to untie bottlenecks in management, thus making it easier for the municipal authorities to proactively roll out policies in a bid to serve its socio-economic development. Regarding the project to develop HCM City into a smart city in 2017-2020 with a vision to 2015, Phong said the project demonstrates the … [Read more...] about Consuls general updated on special policies for HCM City’s development

Ho Chi Minh City has been ranked third and and Hanoi sixth on a new survey that measures urban centers’ short-term growth and modernization pace around the world. The cities are attracting sizable volumes of foreign direct investment as they integrate into regional and global supply chains for high-technology manufacturing, American investment management company JLL (Jones Lang LaSalle Inc.) said in its City Momentum Index 2018. Such global attention, which is expected to continue in the near future, is helping to spur rapid economic and income growth, leading to among the world’s highest rates of increase in retail sales and air passenger numbers, it said. Vietnam's actual foreign investment reached an all-time high of $17 billion last year, when its aviation industry also served a record number of more than 94 million passengers. Stephen Wyatt, regional director of JLL Vietnam, said that seeing the Vietnamese cities in the top 10 "is not surprising." "The pace of … [Read more...] about Vietnamese cities seeing some of world’s most rapid economic growth: report

Becamex IDC and Japan’s Nippon Telegraph and Telephone East Corporation sign a memorandum of understanding for building a smart city in the southern province of Binh Duong on Monday. Photo Nguyen Van Viet Construction and development giant Becamex IDC and Japan’s Nippon Telegraph and Telephone East Corporation (NTT East) on Monday signed a memorandum of understanding for building a smart city in the southern province of Binh Duong. Under the MoU, NTT Vietnam will collaborate with Vietnam Technology & Telecommunication JSC, a subsidiary of Becamex IDC, to provide information technology and telecommunications services to customers in industrial parks and urban areas developed by the Vietnam Singapore Industrial Park (VSIP). The tie-up will also include human resource training and technology transfer and implementation of measures to enhance the quality of services. The two sides will also do research on a feasibility study to instal public wi-fi in Binh Duong New City … [Read more...] about Japan firm to build Binh Duong smart city

Middle-Income Market Drives InvestmentReported by Tu TamMore real estate developers and investors have adjusted their targets to middle income consumers whose increasing demand now looks more practical, while the market for high-end projects are saturated. The Weekly had a talk with Louis Nguyen, CEO of Saigon Asset Management (SAM) over the issue, after SAM’s Vietnam Property Holding recently announced a US$5 million investment in Century 21 Joint Stock Company (C21). Excerpts: Q: The real estate market did not have a good performance in 2010. How did Vietnam Property Holding (VPH) perform in that gloomy market? A: Although 2010 was a challenging year for the real estate market, VPH managed to make a decent return of investment at around 10%. Real estate investment is usually long term and valuations of real estate are not as volatile as the stock market. We were pleased the fund was able to stay positive in an ugly market. What is your view for 2011?It depends on what sector of … [Read more...] about Middle-Income Market Drives Investment